Best Forex Broker For Beginners UK

Which broker is the Best Forex Broker For Beginners UK? We are here to help both the retail trader and the more experienced trader to find the best broker for you. In this article, we are going to recommend a few really good options if you are a beginner at forex trading. Since we are looking for UK brokers only, we are going to list FCA regulated brokers.

Let us give you the answer for the best forex brokers for beginners in UK below:

Here Are The Best Forex Brokers For Beginners in UK 2018

Find the best trading platform. You capital is at risk when trading. Be careful.

Recommended Forex Brokers for New Forex Traders in the UK

All brokers we recommend here are regulated by the FCA and licensed to operate in the UK. All brokers have products suitable for beginners, just make sure you understand the risks that come with trading.

We highly recommend all beginners to set up a free demo account before depositing any money. This will help you try the platform before you start trading for real money.

Looking for something else? Best stockbrokers, best CFD-Brokers, and best cryptocurrency brokers.

What forex brokers are most suitable for beginner traders in the UK? There are literally hundreds of alternatives to pick from and it can be a daunting experience. Luckily, we have spent hours, if not days, reviewing all these brokers and have narrowed it down to 3 great options for beginners.

We will briefly talk about these brokers and why they are good for beginners, we do recommend that you read our full reviews before making your choice.

1. 24Option

24Option has been around for ages, and recently, they have become experts in forex trading too. What we really like with 24Option is that focus a lot on education, and they give out a free eBook to anyone registering with them. They also hold multiple licenses from CySEC and FCA which means they’re completely safe. Set up a free demo account and try out their platform.

  • Educational Material: Free eBook to all new traders plus material for all levels after that
  • Demo Account: Of course, otherwise they wouldn’t be beginner friendly
  • Assets: Forex is one of the main focuses but they offer a range of other asset class
  • Read our 24Option Review

Find the best trading platform. You capital is at risk when trading. Be careful.

2. eToro

eToro is a great option simply because they are one of the biggest brokers out there and they excel in copy trading. Now if you are a beginner, copy trading can be very interesting as it lets you follow and copy other traders. In other words, you can avoid doing all the time-consuming analytic work and start trading right away. And don’t forget to interact with other traders using the eToro social trading network.

Educational Material: There is a lot of material to dig your teeth into but the social network is the best source of knowledge when using eToro.
Demo Account: Yes, eToro has an unlimited demo account for all traders and it’s even before you sign up
Assets: Forex, stocks, ETFs, cryptocurrencies, you name it and eToro offers it.
Read our eToro Review

Find the best trading platform. You capital is at risk when trading. Be careful.

3. Plus500

Plus500 is a public company listed in the UK and they are known for delivering a high quality and simple to use the product, especially their in-house designed platform. This makes them a perfect broker if you are just starting out. Make use of their free demo account and try trading forex before you deposit any money.

Educational Material: Plus500 has put a lot of effort into creating a comprehensive database of educational material for everyone.
Demo Account: Yes, you can open a Plus500 demo account today and test their platform out before you start trading for real money.
Assets: Forex, stocks, cryptocurrencies, and much more.
Read our Plus500 Review

Find the best trading platform. You capital is at risk when trading. Be careful.


4. Markets.com
Markets.com is a good forex broker for beginners due to the fact that they have a wide selection of currency pairs that you can trade. However, the broker also offers one of the most beginner-friendly platforms for forex and CFD trading. The MetaTrader 5 is a great all-around platform that provides you quick access to any market.

Educational Material: eBooks, webinars, videos, articles, and everything else you need to get started.
Demo Account: Yes, and it is completely unlimited and free of charge.
Assets: Forex, stocks, cryptocurrencies, and more
Read our Markets.com Review

Find the best trading platform. You capital is at risk when trading. Be careful.


5. IG Markets
IG Markets is a part of the brand IG Group which is one of the oldest and most well-established financial organisations in the UK. Their flagship product is IG Markets which is a world-leading forex and CFD broker that’s aimed to anyone from a complete beginner to a seasoned professional.

Educational Material: IG Markets might very well have the most comprehensive educational material of all brokers.
Demo Account: Yes! Their demo account can be used to test forex trading, CFD trading, and spread betting.
Assets: Over 10,000 underlying assets with currency pairs being the second largest asset class after stocks.
Read our IG Markets Review

Find the best trading platform. You capital is at risk when trading. Be careful.

Other brokers for beginners the UK

Besides the brokers listed above, there is a sea of other brokers offering forex on the UK market. And plenty of good alternatives too, just make sure that the broker has a license from FCA, the financial authority in the United Kingdom. Any broker accepting UK customers without this license is most likely a scam. An FCA license is a requirement for any broker who wants to operate in the UK.

Getting started with a free demo account

Does forex trading sound a bit scary and complex? Don’t worry, you can always get started with a demo account before you make any real money deposits. This will allow you to try out the platform before you risk losing any capital.

Benefits of starting with a demo account if you are a beginner

  • It lets you test the platform, this way, you will know if you like the product or not.
  • It’s a great way to get familiar with forex trading, especially if you are a beginner or if you haven’t even tried forex trading before.
  • You get to try multiple brokers, for free.
  • The registration process is much shorter if you only sign up for a demo account.

Picking the right broker for you

How do you know which forex broker is the right broker for you? It will depend a lot on what you are looking for, since this article is targeting towards beginners in the UK, just getting started with forex trading, it makes our job a little bit easier.

In general, we are looking for a great forex broker, that offers the most common forex pairs and an easy to understand the platform. Check out all alternatives we recommend and make sure to ask yourself the following questions.

  • Is the broker I am looking at offering the forex pairs I want to trade?
  • Is the platform appealing to me? Will I enjoy trading with this platform?
  • Does this broker have a license from FCA? Is it a regulated broker?

Once you have narrowed it down to a few alternatives you can try them out, either with the free demo account or a real account.